SYLACAUGA, Ala. – The City of Sylacauga has hosted a ceremony today, breaking ground on a new 60,000-square-foot spec building.
The Sylacauga Industrial Development Board is developing the building with the help of the Alabama Power Speculative Building Program.
The $1.35 million project will be built in the S.B. Pinkerton Industrial Park.
The City of Sylacauga, the Sylacauga Industrial Development Board, the Talladega County Economic Development Authority, and Alabama Power are working together on the project.
Hogg Stone & Associates Engineers Inc. designed the new spec building, which is being built by Gaston Construction.
The speculative building boosts efforts in bringing new industrial companies to the region.
“The City of Sylacauga is committed to bringing new, good-paying jobs to the city,” said Sylacauga Mayor Jim Heigl. “This investment is in the future of Sylacauga men and women who will some day work there to provide a better life for their families.”
Many companies looking to establish operations in an area look for a facility that is close to ready for occupation. The new spec building will be easily modified for any number of industries who would choose to locate there.
“Having a site is a big step but having a spec building to show a company really puts you at another level when competing to win an industrial project,” said Dalbert Marsh, president of the Sylacauga IDB. “We’re fortunate to have the Alabama Power Speculative Building Program that helps communities like Sylacauga put our best foot forward with first-class properties.”
The Alabama Power speculative Building Program began in 1991. It provides no-interest loans to qualifying entities with qualifying sites to finance a majority of the costs of constructing a spec building or, in some cases, preparing a site.
The Sylacauga project is the 29th spec building for the program. More than 1,500 jobs have been created with projects that have located in the spec building.
“Alabama Power’s commitment to economic development in this state isn’t limited to project recruitment,” said Shane Kearney, economic development manager with Alabama Power. “Much of what we do is helping communities be ready for economic development opportunities and the Alabama Power Speculative Building Program is a prime example of that.”
Calvin Miller, executive director of the Talladega County Economic Development Authority, served as a liaison on the project.
“Having a speculative building gives a company an added reason to consider locating in Sylacauga,” Miller said. “We deal with companies all of the time who are looking for a building they can quickly customize in order to being production as soon as possible. Sylacauga will now have a site to present to such a company.”